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Bitcoin price has held on tightly to support at $30,000, and according to Raoul Pal’s Global Macro Investor Report, the BTC market cap could 10x from there by October 2021.

GMI’s model uses Metcalfe Value to make the prediction, and currently suggests the cryptocurrency is severally undervalued. Could that lofty target be only nine months away? Here’s what past market cycles say about the estimate.

Raoul Pal has decades of global macro investing experience. He’s regularly been outspoke about Bitcoin and its long term value proposition. The GMI founder was particularly vocal about the crypto prior to the breakout in Q4 2020.

Valuations have only increased from there, and significantly so. However, according to a recent model from a GMI Report focusing on Metcalfe Value, things are only warming up.

The chart includes the GMI Model Metcalfe Value and its proximity to Bitcoin price. The “value” has acted as a sort of middle-point for the cryptocurrency’s valuation.

Currently, Bitcoin is tracing significantly below its Metcalfe Value, according to the report. Past instances of Bitcoin bull markets have always risen beyond the Metcalfe Value, but simply catching up in this case would take the cryptocurrency to a $300,000 per BTC by October 2021.

The project does indeed line up with predictions from other analysts, firms, and more. Even taking the exact trajectory of the last cycle, and super imposing it over the current cycle would indicate a peak of around $325,000 per BTC.

However, if the Metcalfe Value truly is accurate, and the cryptocurrency is this accurate, $300,000 as the ceiling is an extremely cautious estimate. Again, past instances of the bull market peaks have always risen beyond  the Metcalfe Value according to the GMI Report chart.

Prices around where previous peaks reached beyond the value, would put the price of each Bitcoin somewhere near $1 million apiece.

If that’s the case, buying at any point over the next nine months could be the greatest opportunity of our lifetimes. However, other attempts to assign a fair market value to the crypto asset using Metcalfe’s Law, have much lower estimates.

In other trending Bitcoin News today:

“Top Analyst Reveals Just How High Bitcoin, Ethereum and Six Additional Altcoins Can Go This Cycle”

Widely-followed crypto strategist and trader Michaël van de Poppe is revealing his bull market predictions for Bitcoin, Ethereum, and six other crypto assets.

In a new tweet, Van de Poppe tells his 114,700 followers that he sees Bitcoin (BTC) surging as much as 1,223% this bull cycle from its current price of $34,000.

“Peak high predictions for this bull cycle revised:

Bitcoin to $350,000-450,000
Ethereum to $10,000-17,500
Polkadot to $250-350
Chainlink to $250-350
Cardano to $10-20
Zilliqa to $5-7
Elrond to $500-750
DIA to $50-75”

In the near term, however, Van de Poppe expects Bitcoin (BTC) to continue consolidating before the next leg up.

As for Ethereum (ETH), the trader says the leading smart contract platform can possibly grow over 12x  from its value of $1,360 before the bull market tops out.

Van de Poppe is also watching interoperability blockchain Polkadot (DOT), which he says has an upside potential of nearly 1,960%.

Looking at Zilliqa (ZIL), the trader believes the high throughput blockchain is printing an extremely bullish market structure.

“How about a bullish chart? This one of Zilliqa is a massive bullish chart. Still nicely consolidating above the regions I’ve provided earlier. Most likely some further consolidation before continuation towards the all-time high regions.”

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Show Notes / News Resources:
– $300K Bitcoin Prediction:
– Peak High Cryptocurrency Predictions:
– XRP Price Gains 86%:

DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky and so is investing into Cryptocurrency. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

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